"We have gained a larger market position in our Aerospace and Defense and Medical markets because of the addition of Heidrive to our company portfolio," commented Dick Warzala, Chairman and CEO of Allied Motion. "While several applications within our Vehicle market were relatively stable sequentially, specific applications in that market are challenged and we are expecting that to persist in the near future. We are addressing the effects of our customer concentration and end of life product cycles by taking a long term strategic view as we review and adjust our operations and cost structure accordingly."

The Dow Jones rose to an all-time high while the S&P 500 increased nearly to its record levelThe stock markets in the United States closed higher as corporate deals overshadowed the poor performance o...